Mainland stocks fall on FDI slump concerns

SHANGHAI - Stocks on the Chinese mainland fell on Thursday, driving the benchmark index's biggest loss in a week, as a slump in foreign direct investment and delays in a Greek aid package boosted concerns the nation's economic slowdown will accelerate.

Jiangxi Copper Co and Aluminum Corp of China Ltd led declines for metal producers after European officials postponed a decision on a 130-billion-euro ($169 billion) bailout for Greece. Cosco Shipping Co, a unit of China's biggest shipping company, slid by 2.9 percent after the Commerce Ministry said the outlook for foreign investment and trade is "grim".

"The fundamentals of the economy aren't good and monetary policy will still be kept relatively tight this year," said Wang Zheng, Shanghai-based chief investment officer at Jingxi Investment Management Co, which manages about $120 million. "But investors anticipate the government will have measures to support equities. Stocks will be volatile for the moment."